Turkish official domestic wire rod prices have mostly fallen by 10/mt from a week ago against the backdrop of currency fluctuations and sluggish demand during the Ramadan period. Some local buyers have been exerting pressure for further discounts due to slow trading activity and the silence in the import scrap segment. Some buyers are in wait-and-see mode ahead of the Turkish central bank’s interest rate decision. A few mills are applying aggressive pricing to generate sales, while additional discounts are applicable for serious buyers only. Most suppliers are offering material either from stocks or for late May-June delivery.
One Iskenderun mill has kept its wire rod price stable at $1,020/mt ex-works since Wednesday, March 30. Another mill in the region has cut its wire rod price by $20/mt to $1,050/mt ex-works this week.
Region |
Price ($/mt) |
Price change ($/mt) |
06.04.2022 |
||
Marmara |
1,035-1,040 |
-10 |
Thrace |
1,045-1,050 |
0 |
Izmir |
1,030-1,040 |
-10 |
Iskenderun |
1,020-1,050 |
-10 |
The above prices, which are on actual weight basis, exclude 18 percent VAT and are on ex-works basis. The offers may differ depending on buyers and order sizes.